The neobank will offer its Commodities wealth product to customers here.
Revolut’s customers in Singapore will be able to access gold and silver exposure directly through its app from the first half of 2022, according to an announcement on Wednesday.
Purchases are backed by real, physical gold or silver, held securely with a trusted precious metals services partner, Revolut said. Users will also be able to transfer exposure to other Revolut users, and round up their spare change and save them as gold and silver. Transaction fees range from 0.5–1.5 percent.
«Our goal is to give our customers as many options as possible so they can manage and invest their money in the way they want,» James Shanahan, CEO of Revolut Singapore, said.
Revolut has also obtained a licence to roll out stock trading and has plans to bring cryptocurrencies trading to its customers in Singapore.